Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by Stephens

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by equities research analysts at Stephens to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

CHKP has been the subject of several other reports. Wells Fargo & Company raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $200.00 to $280.00 in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, February 27th. The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price target for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Jefferies Financial Group lifted their price target on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Susquehanna increased their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Sixteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.09.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $230.84 on Monday. The firm’s 50-day moving average is $219.14 and its two-hundred day moving average is $199.11. The stock has a market capitalization of $25.39 billion, a P/E ratio of 30.90, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $234.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in Check Point Software Technologies in the 4th quarter worth approximately $428,820,000. Causeway Capital Management LLC grew its stake in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after purchasing an additional 487,823 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Check Point Software Technologies by 17.4% during the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after purchasing an additional 269,925 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Check Point Software Technologies by 10.6% during the fourth quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock valued at $266,930,000 after purchasing an additional 136,699 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Check Point Software Technologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock valued at $158,035,000 after purchasing an additional 27,267 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.